Lessons of crisis recoveries of the last century (Proceedings of the roundtable discussion at the XXII April international academic conference on economic and social development)

Abstract

The crisis that the global economy faced in 2020 has no historical counterparts. However, this does not mean that the experience of overcoming previous economic cataclysms in the current situation is useless. History shows that a crisis can become a long stop on the path of economic development of a country or, on the contrary, give an impetus to its acceleration. Within the framework of the XXII April international academic conference of HSE University and Sberbank (Moscow, April 13—30, 2021), a roundtable was held on lessons in the field of economic, social, domestic, technological policy that can be learned from the crises of the past and are useful in the context of recovering from the current recession. The roundtable became a part of the project “The experience of overcoming the crises of the last century and its lessons for the present”, implemented by the Faculty of World Economy and International Affairs of HSE University in 2020—2021. Its participants were asked the following questions: which crises over the past century most resemble the current economic crisis; what lessons in the field of economic, social, domestic policy, institutional development can be learned from the crises of the past to overcome the current economic situation; can the crisis give the country an opportunity to move to a higher level of development?